Tiger Infrastructure Partners Announces Investment in Northlink Aviation to Fund Construction of Air Cargo Terminal at the Ted Stevens Anchorage International Airport (ANC)
Tiger Infrastructure Partners (“Tiger Infrastructure”) has announced the acquisition of a controlling interest in IC Alaska Airport LLC, which has secured a 120-acre, 55-year lease at the Ted Stevens Anchorage International Airport (“ANC”). ANC is the fourth busiest air cargo airport in the world and a vital conduit for trans-Pacific air cargo. IC Alaska Airport LLC will be renamed NorthLink Aviation (“NorthLink” or the “Company”). With equity capital from Tiger Infrastructure, NorthLink will develop and construct a purpose-built air cargo terminal located on the south campus of ANC consisting of:
- 11 hardstands designed to allow aircraft to power-in and power-out
- Modern air cargo warehouse with temperature-controlled facilities
- Dual-hydrant fueling system at each hardstand
- Infrastructure to recover and recycle glycol used for deicing aircraft
- LEED-certified office space for customers and operations team
Jim Szczesniak, ANC’s Airport Director, commented:By supporting projects that expand the infrastructure for cargo airlines, we are supporting Alaska’s economy. Air cargo volumes continue to grow and this important development project will keep ANC firmly in place as one of the top hubs for the industry.
NorthLink’s strategy is to construct and operate a world-class air cargo terminal and partner with service providers to ensure that air carriers can safely and efficiently refuel, deice and exchange cargos at ANC, capitalizing on the airport’s strategic location and unique commercial opportunities. As air cargo volumes continue to grow, NorthLink will provide an essential infrastructure solution for cargo airlines delivering high-value goods between Asia and North America.
Simultaneous with Tiger Infrastructure’s investment, NorthLink executed a 55-year lease with the State of Alaska for the 120-acre south campus property at ANC.
Emil W. Henry, Jr., CEO and Managing Director of Tiger Infrastructure, commented:We believe that cargo volumes at ANC will continue to grow significantly, driven by factors such as the strong outlook for transPacific air cargo, rising e-commerce volumes, increases in the share of cargo volumes carried by dedicated cargo freighters and ANC’s strategic location. We are delighted to have the opportunity to build worldclass infrastructure at ANC which will address global logistics and supply chain issues.
Sean Dolan has joined NorthLink as Chief Executive Officer in conjunction with Tiger Infrastructure’s investment in the Company. Sean brings decades of infrastructure experience along with a track record of working successfully with customers and strategic partners.
Mr. Dolan, said:NorthLink Aviation is one of the most exciting infrastructure businesses I have seen in my career. I have known the leaders of Tiger Infrastructure for more than a decade and I am thrilled to have the opportunity to work with this team to build and operate a world-class air cargo terminal for customers, ANC and the Anchorage community.
The original sponsor of the project is the Investment Company of Alaska LLC (a subsidiary of the C Change Group LLC), an Anchorage-based investment firm led by Dr. Russell Read, who previously served as Chief Investment Officer of the Alaska Permanent Fund and Dr. John Tichotsky, who previously served as Chief Economist for the State of Alaska.
Russell Read, NorthLink’s Chairman, said:We are pleased Tiger Infrastructure is making this investment. We were seeking a team with the experience in infrastructure and growth investmentsto develop this unique project alongside our local connectivity. I have known the Tiger team for over a decade and we found them uniquely qualified to succeed with this project.
As NorthLink moves forward with the development of the south campus air cargo terminal, the Company is proud to team-up with Anchorage-based businesses, including MCG Explore Design (for engineering and design) and Cornerstone General Contractors (general contractor).
John Tichotsky, a managing member for the Investment Company of Alaska, said:For Alaska to achieve world-class growth rates, based on its locational advantage, all it takes is diligent business planning, structuring, and implementation with world-class global investors. This is a long overdue project that will benefit our State and the Nation. Tiger Infrastructure’s commitment to the environment and the local community is an essential feature for developing Anchorage’s world-class cargo hub.
Tiger and NorthLink are committed to building and operating the south campus terminal in a manner that promotes the highest standards of safety, service, environmental protection, stakeholder inclusion and responsible corporate practices.
This article was originally published by Tiger Infrastructure.
